DAILY CRYPTOCURRENCY NEWS

Investors Await Tether Volatility Drop and Reassignment

Miami Publishes Its Bitcoin White Paper On Its Website

Mayor of Miami City Francis Suarez stated that they are working day and night to turn Miami into a cryptocurrency center. Suarez, who posted the Bitcoin Bitcoin Whitepaper on the Miami website, expressed his pride in this.

Reddit Launches Technology Partnership With Ethereum

Popular online forum site Reddit announced its partnership with the Ethereum Foundation. Reddit stated that it will scale up and accelerate resources for the Ethereum ecosystem and bring the value and independence of blockchain technology to their communities.

Microstrategy Conference Approaching
Saylor, CEO of Microstrategy, which has had 70,784 Bitcoins with large purchases since 2020, thinks Bitcoin is a store of value that could reach up to $ 15 million years later. Saylor will discuss Bitcoin at the conference to be held for corporate companies on February 3-4.

Bitcoin Price Prediction from ARK Investment

ARK Investment, a $ 30 billion asset management company, stated in its report that Bitcoin could settle between $ 200,000 and $ 500,000 with the acquisition of corporate companies. The company, which sees Bitcoin as the most attractive asset with a risk-reward ratio, predicted a market value of $ 5 trillion in the next decade.

The bill is on the agenda again

The highly debated bill, which requires the US Treasury Department to be informed about crypto transactions from exchanges to wallet addresses, has been mobilized again. FinCEN, the Financial Crimes Prevention Network, gave another 60 days for shareholders to comment on the bill. However, no changes were made in the articles of the bill.

Fed Announces Interest Rate Decision

The US Federal Reserve kept the policy rate unchanged in the range of 0-0.25, within expectations. He stated that the economic course will depend on the course of the epidemic. He emphasized that monetary policy will be supportive and this will take time until employment and inflation targets are achieved.

Another Lawsuit Against Ripple

Tyler Toomey, an XRP investor living in Florida, filed a civil suit against Ripple and Ripple CEO Garlinghouse. According to the lawsuit, Toomey alleges that the defendants did not comply with Florida securities laws by not registering with the Florida Financial Regulatory Office.

Comments from Grayscale Lawyer on XRP Case
Lawyer Joseph Hall, former SEC official and now representing Grayscale, made statements about the Ripple case. He emphasized that the trial process will tackle many problems. Criticizing the Howey test, the lawyer stated that the application of the test for XRP on many issues is "absurd".
 

DAILY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 352074.22 TRY

While there was a troubled day in the global markets yesterday, indices, parities and the crypto money market were dominant. After yesterday's sales, the markets are tending to recover this morning, while BTC / USD is experiencing a value gain close to 4%. Prices, which fell to the level of $ 29,150, have also increased 9% since the bottom, calculated with today's reaction. In BTC, this move is not strong enough to start a new upswing. According to on chain data, there is no increase in the number of new addresses and active addresses that will trigger an increase, or the funding rate in continuous contracts is increasing and does not indicate that long positions are on the rise. Therefore, on chain data does not support the BTC price for a long time. This indicates that BTC is idling rather than meaning it will fall. The market has been parked in stablecoins on a large scale and taken to its safe haven. After the volatility subsides in BTC, which has a volatility of 100% for 30 days, we can see that the stablecoins are converted into cryptocurrencies and the market is moving.

When we take the BTC / USD pair technically, the bullish reaction from the $ 28,700 level last week came from the $ 29,150 level this time. However, it does not represent a long-term rise in technique until the quantitative values ​​mentioned above change. Therefore, focusing on returns at resistance levels will be appropriate for a horizontal trading strategy. While the $ 32,300-32,800 levels are our resistance zone, we are on the downtrend on the secondary trend basis. The view is horizontal in response effort and movement in effort.

RESISTANCES 32.341 / 33.484 / 35.054
SUPPORTS 29.628 / 28.058 / 26.915

BITCOIN [BTC] 352074.22 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 24556.28 TRY

Litecoin is trading at $ 128.00 this morning with a 4.5% gain in value, in line with the general market outlook. While BTC lagged behind on a monthly and weekly yield basis, LTC fell even further. The scissors can change at the level of 15-20% on a monthly basis. In this case, LTC's forward-looking return expectation is also preserved. Due to the fact that it will participate in the airdrop for the Flare Network network and the expectations of updates, we have shared LTC analysis with you frequently in recent weeks, but contrary to our expectations, we have seen that LTC is late in responding. Again, we maintain our forward-term expectations for the LTC, which we basically like.

When we consider LTC / USD in the technical view, although we see a reaction above the Fibo'78.6 retracement level of $ 122.40, we can call this a reaction move rather than a trend reversal. While the $ 128.00 level in the daily period is also the Bollinger lower band, we can now convey the necessity to follow Bollinger on the basis of movement, as both LTC tested its support and the upper band tested $ 165.00.

RESISTANCES 1324 / 1370 / 1429
SUPPORTS 1219 / 1161 / 1114

ETHEREUM [ETH] 24556.28 TRY +7.00 +0.03 VOL 21 ETH

AVALANCHE [AVAX] 319.51 TRY

AVAX is pricing at $ 11.60 this morning, up nearly 4% against the dollar. Although it is in the down channel in the four-hour period on the technical analysis chart, the general course of the last two weeks is horizontal. Although we have strong expectations in the medium-long term for the price that continues to move between $ 10.86 and $ 13.49, it will be more appropriate to apply low-return and frequent trading strategies in the short term. A break below the $ 10.86 level could increase the weakening trend in the channel bottom for price. However, it should not be forgotten that the general state of the market will also be important and if the market moves, it is strong enough to turn this weakness up. In AVAX, which we follow on the horizontal plane for now, we follow the horizontal trading strategy until the upper band of $ 12.50 is broken up.

RESISTANCES 11,9756 / 12,6268 / 13,2296
SUPPORTS 10,7216 / 10,1188 / 9,4676

AVALANCHE [AVAX] 319.51 TRY +7.00 +0.03 VOL 21 AVAX

RIPPLE [XRP] 8.23 TRY

Ripple is pricing around $ 0.25 this morning, up 3.5% against the dollar. While the green picture we see in the general market shows us that we have started the day quite positively, we also see the reflections of this on XRP. XRP is finally able to keep pace with the general positive mood of the market after long periods of negative divergence due to litigation. When we said that the worst was priced, we were underlining exactly this point. Ripple's keeping pace with market movements rather than its own news; Ripple said the enterprise payment providers network, RippleNet, had a strong year in 2020 and they signed 15 new deals after the SEC case. In addition, the new partnerships they have created are positive in terms of increasing the reputation of the company, on the other hand, Ripple's legal problems are also increasing as a result of the increase in the number of cases. Ripple Labs is also struggling with another class action filed against it in May 2018, and the recent Tetragon lawsuit.

When the XRP / USD pair is technically analyzed, the gradually descending peaks create a weak course, but it remains 50% above the low level it tested after the SEC case. Breaking down its support at $ 0.2590 caused the price to extend to the $ 0.2450 support in the Fibo'61.80 tranche. Upward movement above this level may bring the $ 0.2800 level on the agenda again. This means an increase of 8%. The MACD, RSI,% R indicators are giving a positive signal.

RESISTANCES 0,2662 / 0,2765 / 0,2885
SUPPORTS 0,2439 / 0,2319 / 0,2216

RIPPLE [XRP] 8.23 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 972.15 TRY

Litecoin is trading at $ 128.00 this morning with a 4.5% gain in value, in line with the general market outlook. While BTC lagged behind on a monthly and weekly yield basis, LTC fell even further. The scissors can change at the level of 15-20% on a monthly basis. In this case, LTC's forward-looking return expectation is also preserved. Due to the fact that it will participate in the airdrop for the Flare Network network and the expectations of updates, we have shared LTC analysis with you frequently in recent weeks, but contrary to our expectations, we have seen that LTC is late in responding. Again, we maintain our forward-term expectations for the LTC, which we basically like.

When we consider LTC / USD in the technical view, although we see a reaction above the Fibo'78.6 retracement level of $ 122.40, we can call this a reaction move rather than a trend reversal. While the $ 128.00 level in the daily period is also the Bollinger lower band, we can now convey the necessity to follow Bollinger on the basis of movement, as both LTC tested its support and the upper band tested $ 165.00.

RESISTANCES 133,22 / 139,44 / 147,04
SUPPORTS 119,40 / 111,80 / 105,58

LITECOIN [LTC] 972.15 TRY +7.00 +0.03 VOL 21 LTC

The LINK / USD pair was the cryptocurrency with the most positive divergence among other coins, with a value gain close to 13% on the yield chart this morning. Yesterday's losses were compensated for LINK, priced around $ 23.60. Strong buying interest at $ 20.00 keeps Chainlink in a bullish position in the overall framework. Fed Chairman Jerome Powell emphasized in a statement that monetary support will continue. Considering that the DeFi sector and cryptocurrencies, which are described as the storage of value, are fed by expansionary monetary policies and inflation, we can see a better picture for LINK, one of the DeFi currencies, in the medium-long term. Likewise, the DeFi index showed a more positive outlook in the last two days, unlike the general market.

When the LINK / USD pair is technically analyzed, it is seen that the reaction is over the Fibo'50 correction while approaching the $ 20.00 level, which is the channel sub-support. The bullish engulfing created on the daily chart and the doji formed on the four-hour chart have given successful reversal signals for the pair. Acting on the $ 20.35 support, the price managed to move itself back to the mid-channel level of $ 24.00. An upward break of the channel midband will not bring further resistance up to the $ 28.50 channel upper band. In the four-hour period, the MACD indicator represents decreasing sales, accompanied by weakening red blocks, and the maturity lines on the indicator are ready for bullish signals. Also, price candles started to hover in the upper zone of the Bollinger band. For this reason, the buy signal in MACD should be monitored throughout the day in a four-hour period. The outlook is positive.

RESISTANCES 24,44 / 25,52 / 27,59
SUPPORTS 21,28 / 19,21 / 18,13

BASIC ATTENTION TOKEN [BAT] 5.50 TRY

The BAT / USD pair is pricing at $ 0.3000 this morning with an increase of 2.5%. Value gains are supported by volume on the rise channel that it started in mid-December 2020. Although the double bottom formation formed on the daily chart creates higher price targets for the pair, it should be followed up to what extent the movements will have a strong momentum. For now, the outlook is positive and in an upward channel. In the double bottom formation, it is above the neckline and supports the formation. However, it would be useful to remind that the formation expectations are not short-term, but more medium-term expectations, as these are on the daily charts. Breaking the $ 0.2786 neckline level and the upside, after several tests, shows that this level is a strong zone. Therefore, as long as it stays above the current neck level, it will be open to upward reactions. Because the $ 0.3095 level in the Fibo'50 correction is another region that will come to the fore in the continuation of the upward trend. Although there is some instability and movements close to the upper band of the channel, the outlook is positive for today.

RESISTANCES 0,3302 / 0,3493 / 0,3789
SUPPORTS 0,2815 / 0,2519 / 0,2328

BASIC ATTENTION TOKEN [BAT] 5.50 TRY +7.00 +0.03 VOL 21 BAT

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